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88-88 AUTHORIZING AND APPROVING THE ISSUANCE AND SALE OF ...ILLINOIS REVENUE BONDS, MILLIKIN UNIVERSITY, SERIES 1988
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88-88 AUTHORIZING AND APPROVING THE ISSUANCE AND SALE OF ...ILLINOIS REVENUE BONDS, MILLIKIN UNIVERSITY, SERIES 1988
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8/25/2016 10:39:51 AM
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8/25/2016 10:39:50 AM
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Resolution/Ordinance
Res Ord Num
88-88
Res Ord Title
AUTHORIZING AND APPROVING THE ISSUANCE AND SALE OF NOT TO EXCEED $7,000,000 CITY OF DECATUR, MACON COUNTY, ILLINOIS REVENUE BONDS, MILLIKIN UNIVERSITY, SERIES 1988...
Approved Date
10/3/1988
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Rebate Fund established thereunder, as more fully described in <br /> the Tax Agreement. Such Tax Agreement shall be substantially in <br /> the form of the Tax Agreement attached hereto and marked Exhibit <br /> G, or with such changes therein as shall be approved by the <br /> Mayor, such execution to constitute conclusive evidence of the <br /> Mayor 's approval, and of the City Council ' s approval, of any <br /> changes or revisions therein from the form of the Tax Agreement <br /> attached hereto. <br /> SECTION 10. Bond Insurance Policy. The City Council <br /> hereby approves the issuance and delivery by AMBAC Indemnity <br /> Corporation, a stock insurance corporation, of its municipal bond <br /> insurance policy (the "Bond Insurance Policy" ) providing security <br /> for the payment of principal and interest on the Series 1988 <br /> Bonds as and when due. The Bond Insurance Policy shall be <br /> substantially in the form of the specimen Bond Insurance Policy <br /> attached hereto and marked Exhibit H, or with such changes <br /> therein as shall be approved by the officials of the City <br /> executing the Mortgage, such execution to constitute conclusive <br /> evidence of their approval, and of the City Council ' s approval, <br /> of any changes or revisions therein from the form of the Bond <br /> Insurance Policy attached hereto. <br /> SECTION 11. Authorization and Ratification of Related <br /> Matters. The members, officials, agents and employees of the <br /> City are hereby authorized, empowered and directed to do all such <br /> acts and things and to execute, deliver and/or approve all such <br /> -9- <br />
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